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03 Aug 2009 01:08:01

US Department of Energy announces renewable energy funding



US Department of Energy announces renewable energy funding
The US Department of Energy has announced that it is accepting applications from companies looking to take part in a renewable energy scheme.

Along with the Department of the Treasury, the government body will make direct payments instead of tax credits to companies that create renewable energy facilities.

The two departments plan to hand out at least $3 billion in such financial support towards the development of as many as 5,000 bio-mass, solar and wind power generation facilities in the US.

Energy secretary Stephen Chu said: "This programme will play a major role in encouraging private sector capital to invest in clean energy development, creating new jobs that can't be outsourced.

"It is an investment that will continue to help our economy grow and ensure advancement in clean and renewable energy development."

The direct payments are authorised under the terms of the Recovery Act and are available to all eligible companies that have created or placed in service renewable energy facilities from January 1st, 2009.

https://treas1603.nrel.gov/

ADNFCR-1235-ID-19293385-ADNFCR


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